PawnMaster Blog

"I want a Deal On a Diamond"

Posted on 14 Dec 2016

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OFFER THE BARGAIN HUNTER
A CHEAPER OPTION  
 A tactic to combat bargain hunters is to show a much cheaper option.
 
 If you only stock the good stuff, you risk looking expensive. 
 
Keep a couple imperfect diamonds on hand for those deal searchers.


 


Try this!
Tell the Bargain hunters that quality actually SAVES them money
Quality actually saves you money
 
 

TO SELL MORE JEWELRY
You don't need lower prices, just a better STORY
 
What is Your VALUE Story?
 
What is Your VALUE Story?
 
money
The important thing to remember when combating bargain hunters is the price does not matter...
ALL THAT MATTERS IS THE 
PERCEPTION OF VALUE.
 
THE $6 BURGER
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One of the most brilliant campaigns I know of was when Carl's Jr. sold the $6 burger. The GENIUS? It only cost $4! 
Yet they called it the $6 burger. Brilliant. Just think about how much extra VALUE was perceived because of the name. The take away? How can you package, sell, or rename something makes a difference.
Make it seem like a better value?
GIVE THEM $1000!
John O'Rourke does a brilliant job of adding value, leading to some pretty impressive wedding band sales. Many jewelers give away free appraisals, cleanings, and sizing, but it is not WHAT you give away, it is HOW you give it away! How you sell the customer is what makes the difference. John of Montica Jewelry gives a free appraisal, free ring cleanings, a free $200 gift certificate towards 
the purchase of a wedding band, and 1 year of free insurance. He calls all this the free "$1,000 Package." Doesn't telling a customer that they are getting a FREE $1000 PACKAGE sound much more impressive to a customer than just telling them about the services? Not only does this lead to more closings, but many 
more wedding band sales too!
            
(No this is not a stock image, this is actually John. Sorry ladies, he's taken)
 

A LITTLE EXTRA
 
Sometimes you just need to give bargain hunters a little something extra. Think of that restaurant you that gave you the free desert, or the mechanic that knocked $50 off your last bill. How do you feel about them? You love them! They gave you a discount in a way that made you feel special. Discounting is part of every business and a little discount can be great if it's done the right way. 
Aleah at Olympian Diamonds

Written by Aleah at Olympian Diamonds

Aleah Siegel grew up in retail and is a 5th generation jeweler, 3rd generation G.I.A. Gemologist at Olympian Diamonds 8 South Michigan Chicago, IL 60603 1-800-882-8900 *This blog is for informational purposes only. Data Age Business Systems, Inc. does not guarantee the accuracy, completeness, timeliness, or correct sequencing of the information provided.

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